Hold onto your hats, folks! ADA is making waves with a market cap that just cruised past the $35 billion mark.
Here's the scoop: Cardano's native token took a bit of a tumble during the recent market crash, plummeting from a comfy $0.82 to less than $0.6. That's a hefty 30% drop in about a week, but this isn't a story of doom and gloom!
The plot thickens as ADA found its footing at the $0.6 support level and bounced back to $0.65 over the weekend, riding the wave of a market-wide relief rally.
Then, just when we thought things might settle down, BAM! In comes the bombshell: US President Trump dropped the news that the US is setting up a crypto reserve, and guess who made the cut? That's right, ADA, alongside XRP and SOL.
The announcement sent shockwaves through the crypto world, and while SOL and XRP enjoyed a neat 15-20% uptick, ADA was the real headliner with a jaw-dropping 55% surge, almost touching that magical $1 mark. This rally propelled ADA to its highest price in over a month, having lingered below the $1 threshold through February.
And that's not all! ADA's rise in the ranks is turning heads, now sitting pretty as the eighth-largest cryptocurrency, leapfrogging over the ever-popular Dogecoin whose market cap is just under $32.5 billion.
So, keep your eyes peeled and your crypto wallets ready, because ADA is on a roll and shows no signs of slowing down!
